Loan amount
$130,000
Loan type
As-Is Property Value
$130,000
LTV
100%
{LTV}
Property type
Single-Family
Borrower Details
Credit score
495
Deal experience
10 deals
This loan scenario was submitted by a Broker
Property Details
State
Illinois
Loan Details
Additional Loan Information
Request $130,000
4 bedroom 2 bath at 1,089 sq. ft. on 0.65 acres of land with a 2 car garage.
1. $130,000 for above property that is in Foreclosure.
2. Offer the bank $80,000.
3. The remaining $50,000 for rehabbing the home to bring it up to code by KDE Home Remodeling.
4. The home will be rented for $1,878 through Section 8 Program.
5. Will pay Hard Money back in 10 to 15 Yrs. agreement.
6. The total rental income $22,536/Yr. Low Property Taxes = $5,211/Yr.; Insurance only $1,020/Yr.
7. Profit of $5,472 per Yr.
8. Asking 100% loan.
I own a home in Joliet, Illinois; Investor in Stocks, Digital Currency and I receive a monthly Pension from OPM (Office of Personal Management from Washington, DC).
4 bedroom 2 bath at 1,089 sq. ft. on 0.65 acres of land with a 2 car garage.
1. $130,000 for above property that is in Foreclosure.
2. Offer the bank $80,000.
3. The remaining $50,000 for rehabbing the home to bring it up to code by KDE Home Remodeling.
4. The home will be rented for $1,878 through Section 8 Program.
5. Will pay Hard Money back in 10 to 15 Yrs. agreement.
6. The total rental income $22,536/Yr. Low Property Taxes = $5,211/Yr.; Insurance only $1,020/Yr.
7. Profit of $5,472 per Yr.
8. Asking 100% loan.
I own a home in Joliet, Illinois; Investor in Stocks, Digital Currency and I receive a monthly Pension from OPM (Office of Personal Management from Washington, DC).
Status
Closed
Created
August 5, 2019 - 10:38am
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